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table: (a) If the probability that the rezoning will be approved is 0.5, what decision is recommended? Recommended Decision: What is the expected profit? Enter your answer in thousands dollars. For example, an answer of $200 thousands should be entered as 200,000 . proposal from area residents. Probabilities are as follows: Let H= High resistance to rezoning L= Low resistance to rezoning P(H)=0.53P(s1H)=0.17P(s2H)=0.83 P(L)=0.47P(s1L)=0.85P(s2L)=0.15 What is the optimal decision strategy if the investor uses the option period to learn more about the resistance from area residents before making the purch High resistance: Low resistance: Why or why not? The input in the box below will not be graded, but may be reviewed and considered by your instructor. What is the maximum that the investor should be willing to pay for the option